Has anyone heard of such BS before???

[Tonifyd]

I'm absolutely outraged, and confused, and disappointed.

I'll try to keep it short. Any more details will be added with questions.

This is how it went down in sequence.

1. went to dealer to lease an M3
2. credit score ok, but not enough credit history
3. dealer "approved(#1)," b/c supposedly the manager has authority to override credit
4. ordered the car (3/15), $2,000 down payment
5. car delivered (5/14)
6. went to pick up car
7. dealer says when the car ordered, the finance manager did not submit application, and did not approve credit
8. my credit is not good enough
9. needed a cosigner
10. i become cosigner, better credit person becomes primary.
11. credit of primary "approved #2"
12. I take delivery, along with a $12,500 downpayment (total in $14,500)
13. lease changed to finance
14. BMW preferred customer. 2.9%
15. dealer sells me too much extra insurance (I now regret)
16. all contracts signed, with dealer telling me "when all is signed, there is no going back"
17. dealer e-mails me a few days later "we need bank statements from both of you ASAP, or your car will get repoed. WTF.
18. a few days later, gf(the primary on my contract) goes to same dealer to lease her car. We hand in our bank statements. Finance manager looks at everything and says it's all looking ok, as we are "approved #3"
19. next weekend I get a clear bra and tint and detail ($4,000)
20.. two weeks after purchase, dealer calls me again
21. "bmw finance did not approve your application. we need a larger downpayment ($10,000 ~ $15,000 more), or we will cancel the contract and we repo your car"
22. "come in so we can rewrite the contract"
23. me: "wtf, we signed a contract. it's a done deal"
24. "not according to your contract. If you don't like it and can't pay an extra down payment, you can bring the car back, we will give back your deposit, and you can walk out the way you came in the first place"
25. I tell him I'll give him a call back, and I call my CA.
26. CA says he has no idea about what's going on, as he is a CA, and the guy calling me is the finance guy. He says he'll get back to me after talking to the manager. I never get a call back.
27. Finance guy calls back a few days later.
28. I tell him there's no way in hell I'm gonna pay an extra 10-15 grand more, AFTER all contracts are signed
29. finance guy says then bring the car in and we can end it
30. I said, "ok give it to me all in writing, and I'll talk to my lawyer"
31. "there's nothing we can write out. the contract IS the writing, we can't type up a formal letter you're requesting"
32. "to be honest, that's complete BULLSHIT"
33. "i'm sorry you feel that way, but that's how it is with BMW finance."
34. "ok then take off all the insurance you sold me, there's your ten grand right there."
35. "umm... I'll call BMW finance, and I'll have to get back to you"

The end.


does any of this sound a bit fucked up to anyone?

[fastrack]

yes it does, especially the part where u pay $10000 in insurance and $4000 for detailing and tint????

[jeff@autocouture]

Defly sounds like bs

[elh0102]

With all respect, no one on the forum can offer an informed opinion, since no one has access to all the facts. There are only two people with whom you should be engaged in conversation, the dealer, and your lawyer. Good luck.

[Tonifyd]

Originally Posted by fastrack

yes it does, especially the part where u pay $10000 in insurance and $4000 for detailing and tint????

The insurance consisted of:
Extended warranty
Lo jack
Wheel and tire protection
Perma plate
Gap insurance
Dent guard

Tint(all windows including windshield and moonroof)+ full front end custom clear bra + new car detail

[Simma]

Pure bullshit I really feel bad for you. This dealership is making BMW look bad. You should expose the Dealerships name AFTER all your issues are settled and maybe teach the finance manager a little something something. The guy deserves to work at Hyundai.

[gjpinoy]

You should be calling out the Dealership here and the Dealer you dealt with so no one else goes there or to him again.

And yea that does sound like some bullsh*t. You shouldn't have signed any other contracts after the first one. Everything has to be approved and settle before you sign and if they made you sign first then its not your problem that BMW finance didn't approve you it becomes the dealer's problem and I think they were bullsh*ting you about repo'ing the car, just to scare you. You haven't breached your contract and you can make your payments. I think the dealer you were doing business with was f'ing retarded or something and he was dropping the ball left and right.

[Glop]

Gap insurance is already included in the lease payments.

[Prince_of_Persia]

It is a total BS. If I were you:
1) Tell us the name of the dealership so no one deals with them anymore
2) Contact BMW NA and put a big complaint about the dealership, tell them every details
3) Get a lawyer and sue them.

[KGB7]

Originally Posted by Prince_of_Persia

It is a total BS. If I were you:
1) Tell us the name of the dealership so no one deals with them anymore
2) Contact BMW NA and put a big complaint about the dealership, tell them every details
3) Get a lawyer and sue them.

^This!

And you should return your car and get all your money back ASAP!! Drive it in to a dealer today and throw the keys on the desk and demand your money back!!

DONT screw around with phone calls to the dealer!!

[tlp]

Sounds like Valencia BMW is taking you for a ride. Sorry to hear that.

[Nelrock]

I'd definitely give BMW NA's financial services a call.

In my experience...they'll tell you there's nothing they can do...it's up to the dealer. But...it's worth a shot.

[Tonifyd]

yeah. it's fucking pissing me off.
Today I don't have time till 6PM, so first thing in the morning, I shall call BMW NA, and after talking to them, I should go see a lawyer.

If it weren't for the money I already invest on the car (clear bra tint detail), I woulda thrown back the keys at them. If they're willing to reimburse me that money as well(which i highly doubt), I'll give them the car back.

The finance guy will call me today, or so he says, so we'll see what they say in response.

[UsurbrainM3]

Sorry dude... but after working in the dealership in multiple positions... they are not wrong. You did sign the contract, and on there it explicitly states that if they can't get financing for you, they have the right to take back the car. Now for the extra stuff that you installed... that's unfortunate. I would hold onto the car till they come to a resolution about that though. They should reimburse you for all the downpayments that you put down on the car.

[Technic]

What about returning the car and getting all your money back? Is it not what they initially offered you?

[Smokey]

Something just doesn't seem right about this-- I can't put my finger on it. OP, why couldn't they get you financing with $14000 down, an "ok credit" and a cosigner?

[positiveions]

well since you are in Calif, and especially in SoCAL, let me answer this having worked at a car dealership.
I am certain that this dealership is playing: "let's throw in the contract to BMW finance, deliver the car, and if BMW finance buys it, hey that is great". I've seen those types of people in my life-bunch of clowns if you ask me. I've seen so many people heart-broken over the fact that were told after delivery of the vehicle: "bring the car back, such and such finance company didn't approve you".
Does it happen? YES. Is it Fair: well, it depends; because sometimes, people were able to purchase a vehicle (pure luck? maybe).
A good finance manager should be able to look at the application, check your credit report, and figure out whether BMW will approve it or not. Thus, He "should" be able to figure whether you are at Tier 1, Tier 2, and so on. Apparently, these clowns were playing the above aforementioned game. Sucks for you!.
Ok, let's say you don't have the cash to put down. You can take the car back, and your credit won't be affected! Get your money back! IF they said otherwise, call them out on their lies!
Say that you have the cash and you want to go ahead with the deal. Well if they are going to rewrite the contract, cancel those extra insurance. IF they say you can't, then ask them politely that you will like to cancel the deal; since they are writing a "new" contract, under "new" finance terms, and a "different" down payment.
I would go to a reputable BMW dealer, such as some are advertising on this Forum, and explain in detail your ordeal. Make sure you mentioned your credit, blah blah blah.
I hope this will help.

[Crimson92]

LOL, this is either

1. Pure BS
or
2. You got taken for a huuuuuuuge ride. Even if you didnt have enough credit or bad history you wouldnt need 10-20k down.

My first bmw i didnt have enough history and he only asked for an additional 1k down.

Have you ever bought a car before? I'm guessing not since you bought all of the bs finance packages.

[Erhan]

The moment they asked you to be a co-signer (or become one) OR make more downpayment OR turn the lease to purchase you should have walked away to another dealer. I'm assuming your financials are ok since you were ok to pay $4000 for clear bra and tint.

Btw, $4000 still way too much for tint + bra. I have a "half car" bra (from front bumper to door frame) and side rocker panels, and door wells and I paid $1200. I was quoted about $4-500 for the tint (including windshield) but for now I don't want tint.

[UsurbrainM3]

Anything sold in finance, as long as it wasn't "installed" in the car (like a alarm or something) can be cancelled. you can cancel all the extended warranty stuff if you want.

[ES_TRADER]

Sorry for your troubles but I'm still trying to understand why u would drop 4 grand for a leased car. Seems like you would be doing a favor for the guy who buys your lease return

[OC3]

Wow, wtf...

Originally Posted by tlp

Sounds like Valencia BMW is taking you for a ride. Sorry to hear that.